Greece Golden Visa Programme 2019

Looking to establish a permanent foothold in the EU? The Greek Golden Visa Programme puts EU residency within reach of South African business professionals and families, with eligible investments starting from around €300,000 inclusive of professional service fees. Contact us now for a free consultation on your investment emigration options, or find out more about the Greek residency programme below:

 

Why Choose Greece

Lifestyle: Greece is globally renowned as an international travel destination, and with good reason. Boasting sundrenched beaches, sumptuous cuisine, a rich cultural history and sunny weather all year round, the country offers residents an unparalleled lifestyle. The country features a high decree of urbanization, with over 40% of its population of 11 million people living in and around the capital.

 Economy: Greece is a stable democracy with a diversified, high-income economy. Textiles, chemicals as well as food and beverage products are all key export lines, with the country also producing several hundred thousand tons of olive oil per year.

Safety: A key draw card for immigrant investors from unstable jurisdictions is the fact that Greece is one of the safest countries in the world. If a life without the uncertainty of war or crime is what you’re after, Greece is an excellent option.

Growth potential: Demand for Greek property has been driven up by a combination of the tourism boom, the Golden Visa Programme and the meteoric rise in popularity of short term letting platforms such as Airbnb. During 2018 alone, the average price of property in Athens registered double-digit growth.  In neighbourhoods such as Psyrri, short term letting is big business. With demand growing steadily, investment values are likely to follow suit.

Strategic location: Greece is also strategically located from a business perspective, serving as a geographical gateway to Europe, Asia and Africa. In terms of air route connectivity, Athens scores very highly; most of Europe’s key cities can be reached by air in around 2 hours or less.

Cost of living: Compared to a host of European countries, the cost of living in Greece is exceedingly low.

 

The Greek Golden Visa at a glance

Introduced by the Greek government in 2013, the Greek Golden Visa Programme has become one of the most popular immigrant investor schemes in Europe. The Golden Visa is granted to third country investors under the provisions of the Immigration and Social Integration Code, in accordance with Law 4136/2013. By making a qualifying Greek property investment of €250,000 or more. At this price point, it’s substantially more affordable than the Portuguese Golden Visa, which requires a property purchase of no less than €350,000 excluding fees.

Qualifying properties may be purchased on a resale or off-plan basis. It is important to note that payment for such properties needs be made from a personal bank account in the name of the purchaser, and not from a company bank account, into the purchaser’s new Greek bank account.

The investor also has the option of investing in a number of properties, provided that the total value exceeds €250,000. Such properties may be rented out long term or short term on platforms such as Airbnb, however the onus is on the owner to ensure that all legal requirements pertaining to such use are complied with.

The Greek government requires the immigrant investor to maintain the qualifying property investment for the full period during which the Golden Visa is valid, with checks pertaining to this being done every 5 years.

A Greek Golden Visa does not allow the holder to seek employment in Greece, but the visa does allow for the holder to own shares in a Greek company.

There are a number of other qualifying criteria: The Greek government requires the immigrant investor to purchase prescribed medical insurance cover for themselves, their spouse as well as dependent family members applying for Greek residency rights under the programme. Applicants must have a clean criminal record and be of good international standing. A rigorous due diligence process is also undertaken, and proof of source of funding is required.

Why Choose Us

Golden Visas South Africa gives you access to the country’s leading investment emigration consultants for the EU’s top Golden Visa Programmes. Complete the below form and one of our consultants will contact you to discuss your specific needs.